Kodak Unveils Restructuring Details
Iconic US camera and film conglomerate Eastman Kodak on Tuesday detailed its plans for restructuring, including realigning itself into two units. The realignment will absorb parts of the company's struggling film business as well as new printing technologies that are key to the company's attempt to reverse its fortunes. The company also filed a pair of patent infringement suits Tuesday, naming Apple Inc and HTC Corp in the claims.
For several years, Kodak has been using patent licensing and litigation to fund its operations, but its cash has nonetheless been dwindling. Kodak has been actively seeking a buyer for the thousands of imaging patents it holds, but has so far not been able to find a prospective buyer willing to pay what Kodak is asking.
Kodak now has patent lawsuits pending against Apple and HTC both related to image previewing and separate claims related to transmission of images on mobile devices. Kodak's restructuring will reduce the company's operating segments from 3 to 2, and will mean that the company's 131 year-old film business will no longer stand on its own, like it always has.
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